We need leaders to discuss how can somalia develop and what's in the way. Lack of rule of law, security, corruption, reconcilation. These are the main things that are stopping somalia from progressing. These issues need to be addressed only be the government, they can't pass the buck on this issue to the people or other sectors of the community. There are other things that are stopping us but we can't get to that stage untill these issues are resolved. We need a people that have faith in the system again, where the rule of law is above anyone, where corruption is non-existant and where people have truly forgiven each other for the past and created a 'check n balance' system in their constitution to ensure this never happens again. But there are other issues like a lack of a banking institution in the private sector, where are people supposed to source capital for business investments and job creation? how is someone going to buy property if they can't go and get a loan cause there is no banks? a bank is the critical lifeline of an economy, it is the source pool of capital. If we had a banking law that stated all somalis must put their money in a banking account, this could generate 2 billion in revenues a year for a private banking sector. On top of collecting fees from accounts and profit margins on loans, they can use that 2 billion to give out loans for business investment which will create new workers, which means new banking accounts and future property loans cause thats what someone does when they have an income, they buy a property. This will kick start a spiral of economic activity through-out the nation where capital needed is there, loans are given to the public to create businesses or properties, eventually the economy will just keep pumping money after money and that 2 billion will turn to 200 billion very shortly since more people will be getting employed and getting a source of income.
You simply can't develop a country without a strong private banking sector, if the banking sector collapsed in the west, it's game over, they can't borrow or sell anything since noone has capital anymore!!! it's pretty much turn off the lights and go to sleep, civil war will definitely start there since their culture is based on a business culture slogans (land of opportunities) and it did with the south civil war of economic, if there is no opportunities, don't expect them not to kill each other like our nomads who's values are around something much more reliable and static and not affected by 'money shortages or droughts' a strong cultural xeer that has worked and treated them good for centuries. I am suprised we don't learn from them, I am learning alot from them personally!!! but we wanna learn from the west when we know what keeps them united is something that can disappear anytime(money). So silly really!!!
PL better vote in reliable people this time, the landscape in somalia has changed, the times of these throwbacks from yesteryear are no longer welcome, the quality of the game has gone to another level now, if you bring in this stooge ina sharmarke, we will get truly slaughtered!!!
PS: economies are not hard to build at all. If u have access to capital(bank) which is just capital from all the people in one area, you now have access to money and can get a loan to create a business and employ many people or buy property and rent it out collecting money. This helps the govt also as it's tax base just shoots thru the roof as it has sources of incomes coming from everywhere from housing, to income, to business. Soon that 2 billion in remittance in those banks will be 200 billion. Money just makes money. Govt can then focus on providing the right supply of people for whatever economic sector is booming. If it's manufacturing, they will create subsidy programs and make it cheap for ppl to enter technical schools, if it's high skilled workforce, they will invest in universities and creating subsidies for that!!!
If we can just take that 2 billion in remittance and create a banking law stipulating that somalis must use banks to store their money. We can easily fund our own infrastructure projects by ourselves, we won't rely on foreign aid, infact we will start giving out foreign aid because our capital will be increasing so much if it's not spent somewhere money loses value over time. 1 DOLLAR today isn't the same as 1 dollar in 30 years. In a few decades we will be loaning out our money with high profit margins to countries so it doesnt lose it's value sitting there doing nothing in our country.
